The parliamentary economy warns of a financial crisis hitting Iraq
The parliamentary economy warns of a financial crisis hitting Iraq
8-26-2017
A member of the Committee on Economy and Investment parliamentary Najiba Najib, Saturday, that the continuation of Iraq’s reduction in oil production of the Organization “OPEC” and exhaustion of the state budget with wars and other types of spending spikes foreshadow a future austerity crisis of the country, adding that the reports of international economic organizations as long as confirmed Iraq’s inability to pay its external debt .
Najib said in a press statement that “the country is on the verge of austerity crisis as a result of Iraq’s continued reduction in oil production in the Organization” OPEC “and its financial budget as a result of the war against dodging and low oil prices in addition to the crisis of sheltering the displaced,” noting that “ministries that are economic service is Are not functioning and do not provide the level required to achieve self-sufficiency. ”
“Most of the world’s economic organizations have confirmed in their reports that Iraq’s inability to pay its debts next year due to the deficit of its financial budget and the lack of imports and increase imports and the exit of hard currency,” noting that “the activation of income-generating sectors will contribute to the recovery of the Iraqi economy.”
“The country needs a difficult currency to stabilize the local currency and as a result of the decline in oil prices, the central bank’s reserves of foreign currency decreased, which led to a rise in the dollar against the dinar and all obstacles to the progress of the Iraqi economy,” she said.
waradana.net
